Florida Statutes mandate that condominium associations provide adequate hazard insurance coverage for the common elements of the condominium property (FS 718.111). 

An accurate appraisal will tell you how much insurance coverage you should have.

Not Too Little. If you’re underinsured, your losses may not be covered. Additionally, you could be penalized for not meeting co-insurance requirements. You would have to pay for the uninsured damages plus the penalty for not meeting the co-insurance requirement.

Not Too Much. If you’re over-insured, you may be paying more in premiums than is necessary. The insurance company will only cover the actual cost to rebuild, no matter how much coverage you pay for. 

But Just Right. An accurate appraisal can minimize your risk and keep your premiums as low as possible. 

Good appraisers have the experience, training, and tools needed to do the job right. We use the most reliable cost estimating software available and keep up to date on changes to building codes and regulations. We consult with local developers and contractors for real-world cost data.